Whopping 4% Increase in Population in SG in 1 Year!

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An honorable member of the Coffee Shop Has Just Posted the Following:

UNEMPLOYMENT RATE FOR SINGAPOREANS INCREASED TO 3% IN Q1 2014



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Post date:
13 Jun 2014 - 10:47pm













According to the latest figures released by the Ministry of Manpower, (MOM), the unemployment rate in Singapore has increased slightly to 2% in the first quarter of 2014.
The total unemployment rate in the fourth quarter of 2013 was only 1.8%.

While overall unemployment rate appears low, at 2%, the figures were slightly higher from local and citizen unemployment rate.

Local unemployment (PR and Citizens together) was 2.9% while citizen unemployment rate was 3%.

It seems that foreigners really do have better job prospects in Singapore as they help to bring down our overall unemployment rate.

MOM explained in their Labour report that the increase in unemployment rate could be due to the fact that more unemployed persons were seeking work recently due to increased wages and more job openings and not necessarily because of more people being fired. :kma:

Since unemployment rate is calculated by the number of people who are actively seeking work as a percentage of the total workforce, those unemployed persons who are not ‘actively seeking work’ are not counted in the figures.

Long-term unemployment (people who remain unemployed for over 25 weeks) was still low at 0.6%

The total number of people in the workforce in March 2014 was 3,552,200, 4% higher than a year ago. Does this mean that we saw a rough population growth of 4% in just 1 year?

While there are still many Singaporeans who are unemployed, the MOM insisted that there are more job openings than job seekers.

In terms of the number of people who lost their jobs, 3,110 people were made redundant in the first quarter of this year, more than the 2,120 that were retrenched in the same time last year.


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